Don't listen to this guy people, if you really want to pay off your debt fast you need to take a job that pays nearly triple what you earn. Don't settle for double like this chump, tripling your income is way faster.

serial_crusher:If the best job you can get after college pays $13 an hour, you made a bad investment.

I actually completely disagree with you. Starting above $12 means you're not working retail or service in the vast majority of the country. $13/h for an entry level position with no experience is great.

If that's still what you're making 2 years later, well, then that's a different issue.

reillan:serial_crusher: If the best job you can get after college pays $13 an hour, you made a bad investment.

lots of employers won't give you a chance just because of a degree. It's all experience, now.

Yeah, so skip college and go straight to the experience. You might start out at less than $13/hour in that case, but after 4 years of experience you'll be making more (unless you're a dumbass), plus you won't have $20k in debt...

All I could manage right after graduation was a $10/hr job at a place i'd worked at before college. I went on to complete a postgrad certificate program and now make about $23/hr with no where to go but up. (Got lucky and my yearly review is right before my birthday and am aiming to have yearly birthday raise!)

A couple of months ago, I finished paying off $26,500 in debt -- most of it student loans. It took less than two years to save up that cash. During that time I became a pro bargain shopper, tested my limits with expiring foods and briefly resorted to using food stamps.

So, you are saying is that you made the taxpayers take on your debt, and are bragging about it?

Given a choice between being debt-free and stuck in a tiny run down apartment with only a junker to drive, or being $95k in debt with two new vehicles, a large house on three acres of land, and no HOA or landlord to worry about, I'll take the debt any day.

serial_crusher:reillan: serial_crusher: If the best job you can get after college pays $13 an hour, you made a bad investment.

lots of employers won't give you a chance just because of a degree. It's all experience, now.

Yeah, so skip college and go straight to the experience. You might start out at less than $13/hour in that case, but after 4 years of experience you'll be making more (unless you're a dumbass), plus you won't have $20k in debt...

The Angry Hand of God:A couple of months ago, I finished paying off $26,500 in debt -- most of it student loans. It took less than two years to save up that cash. During that time I became a pro bargain shopper, tested my limits with expiring foods and briefly resorted to using food stamps.

So, you are saying is that you made the taxpayers take on your debt, and are bragging about it?

No, he's showing how he was able to pull himself up by the bootstraps.

sendtodave:This gives me an idea. I'll start a business where my "employees" pay me for on the job xperience!

Not sure if you're being sarcastic, but they already have those.A friend of mine "worked" as an "intern" at "NASA". Told me all kinds of cool stories about all the people she met, cool things she did (for fun, never anything about doing actual work...). When I asked her if she could give me a reference the next year, she sent me a link to the website she signed up through. For only $10,000 they guaranteed placement in one of their unpaid internships.Basically they just give NASA a cut of the money and then stick the kids in some corner with a babysitter.

sendtodave:serial_crusher: reillan: serial_crusher: If the best job you can get after college pays $13 an hour, you made a bad investment.

lots of employers won't give you a chance just because of a degree. It's all experience, now.

Yeah, so skip college and go straight to the experience. You might start out at less than $13/hour in that case, but after 4 years of experience you'll be making more (unless you're a dumbass), plus you won't have $20k in debt...

I'm going to wager a guess and say you work in IT.

Something like that. Yeah, it's probably not as easy to get a job in journalism that way. But, my advice in that department is "holy crap what's wrong with you, why would you want to work in journalism? you'll make more at McDonalds"

the ha ha guy:Given a choice between being debt-free and stuck in a tiny run down apartment with only a junker to drive, or being $95k in debt with two new vehicles, a large house on three acres of land, and no HOA or landlord to worry about, I'll take the debt any day.

Freedom is about what you can do, not what you can spend.

I like your style.

Keep thinking this way. I encourage it.

Of course, I am a bankruptcy lawyer and I sincerely appreciate your efforts to guarantee me a very profitable practice.

the ha ha guy:Given a choice between being debt-free and stuck in a tiny run down apartment with only a junker to drive, or being $95k in debt with two new vehicles, a large house on three acres of land, and no HOA or landlord to worry about, I'll take the debt any day.

Freedom is about what you can do, not what you can spend.

One flaw in your scenario is that many people are stuck in run-down apartments and driving crappy vehicles precisely because so much of their income goes toward payments on their accumulated debt.

Another flaw is that debt is risk. If you are out of work for any significant period of time, that large house and those new vehicles will be nothing but a memory, with pending lawsuits from the lenders to cover the deficiency.

Freedom comes when the debts are paid off and you can use your income on yourself and your family, instead of on debt payments.

You can make more money as an E-3 in the military than as a public school teacher in a lot of states. Not to mention enlistment bonuses, student loan repayment (up to 65k - based on branch of service), tuition assistance while serving (up to $250/SH), and GI Bill.

If you don't have a lot of money or your parents didn't save anything, one of the best ways to go to school and end up debt free is probably military service.

This is the typical Yahoo front page these days:1. This remarkable woman lost 257 pounds! And she did it with two simple tricks.2. These people paid no federal taxes last year! Here's how they did it.3. Here's how one young determined man paid off over $25,000 in student loans

One click and one pop-up ad later...1. Eat less and exercise.2. Make less than the minimum taxable amount or invest in tax shelters.3. Get a job that pays more.

Cybernetic:If you are out of work for any significant period of time, that large house and those new vehicles will be nothing but a memory, with pending lawsuits from the lenders to cover the deficiency.

The cars are paid off, my credit card debt is in the tens of dollars, and my the frontmost portion of my lot (which was divided into three when I originally bought it) was last assessed by the tax office for $140k.

If the worst does happen, the only thing I'll lose is ~200 feet of trees at the end of my driveway, and my savings should cover my food, power, and tax bills for the next few years.

Debt itself is not evil, dumb debt is. If you go into serious debt without an exit plan, that's dumb debt.

serial_crusher:sendtodave: This gives me an idea. I'll start a business where my "employees" pay me for on the job xperience!

Not sure if you're being sarcastic, but they already have those.A friend of mine "worked" as an "intern" at "NASA". Told me all kinds of cool stories about all the people she met, cool things she did (for fun, never anything about doing actual work...). When I asked her if she could give me a reference the next year, she sent me a link to the website she signed up through. For only $10,000 they guaranteed placement in one of their unpaid internships.Basically they just give NASA a cut of the money and then stick the kids in some corner with a babysitter.

I worked at Kennedy Space Center for a couple of years, and the college interns on my project were very sharp kids (one from Ole Miss, one from MIT) who did real work. I have no idea what process they went through to get the positions, but there are NASA internships that are much more than a glorified vacation.

I don't understand how he was eligible for food stamps while in school? Don't most colleges offer a meal plan when you move into the dorms? Also, while not everyone is eligible and/or has the desire to join, the G.I.Bill will pay off your student loans while giving you some job skills, and you get veterean points when applying for govt jobs. It worked for me! And for the record not every MOS (military occupation specialty/job) is infantry, I mostly did admin work, didn't like being in the military so I didn't re-enlist but I got my student loans paid off and I got a nice govt job.

Also, getting food poisoning once or twice will give you a huge hospital/medical bill not to mention loss in pay from work missed. Doesn't make sense to risk your health to save a $1 or $2.

So we have a guy who sacrificed for a couple years and is now pretty much free of debt. If he's smart, he'll continue to live carefully (he might want to lighten up a bit on the food expenditures) and build up a good chunk of savings and investment and pay cash for anything he wants to buy in the future. It's guys like him that become millionaires by the time they retire, not the folks who spend upwards of a third of their income on interest payments for the mortgage, car loans, credit card debt, student loan debt, etc.

But what he gets on Fark is ridicule. That driven by jealousy of his commitment or guilt at your own unwarranted profligacy?

Cybernetic:serial_crusher: sendtodave: This gives me an idea. I'll start a business where my "employees" pay me for on the job xperience!

Not sure if you're being sarcastic, but they already have those.A friend of mine "worked" as an "intern" at "NASA". Told me all kinds of cool stories about all the people she met, cool things she did (for fun, never anything about doing actual work...). When I asked her if she could give me a reference the next year, she sent me a link to the website she signed up through. For only $10,000 they guaranteed placement in one of their unpaid internships.Basically they just give NASA a cut of the money and then stick the kids in some corner with a babysitter.

I worked at Kennedy Space Center for a couple of years, and the college interns on my project were very sharp kids (one from Ole Miss, one from MIT) who did real work. I have no idea what process they went through to get the positions, but there are NASA internships that are much more than a glorified vacation.

Oh, I didn't mean to typecast all the NASA interns. I don't doubt for a second that there are actual smart people working at NASA. Just this batch was clearly only there to pad their resumes while providing NASA with some much needed funding. They were in Houston. I think they were considered part of the accounting department.

Turbo Cojones:"Tips" like "lower you cell phone bill from $100/mth to "only" $70/mth" are symptoms of a diseased mind. This while paying $900/mth in rent?

I also enjoyed the "splurging" at McDonalds when that same breakfast would cost 20% to prepare at home.

And we are supposed to be impressed that he was able to afford $230/mth loan payments on $50K?

I was wondering who would be the first to point that out. "Things were looking up. I was in a new city, had a great job; but despite all that, my student loan debt continued to weigh me down." Then you dumbass are doing something TERRIBLY wrong.

In my 20's I partied like a rock star, bought expensive toys, charged my CC up to nearly the limit. It was a great 9 years! WHY THE FARK would I sit at home and eat moldy food?? At age 29 I also took a job that paid me alot more and magically I was able to pay off my debt from the good time I had over the previous years. You only live once loser, get off the farking couch and at least cook something good. What a moron. What do you want a farking medal? LOL! Noone gets a prize for least amount of fun had after their dead. Idiot. When was the last time you were on a date numbnut? Did you take her(or him) to the dumpster behind the McDonalds?

If you are bringing in 50K a year, with no car payment, and only $233 a month in student loan payments, why in the fark are you eating moldy food? I want to see the list of his other expenses because he is wasting money somewhere else. Oh no wait"I would spend no more than a quarter of my monthly income on essentials -- rent, utilities, phone bills and groceries -- and the rest would be stowed away in savings." While a noble goal, you can't do that with your income buddy. That's just not realistic.

rvesco:This is the typical Yahoo front page these days:1. This remarkable woman lost 257 pounds! And she did it with two simple tricks.2. These people paid no federal taxes last year! Here's how they did it.3. Here's how one young determined man paid off over $25,000 in student loans

One click and one pop-up ad later...1. Eat less and exercise.2. Make less than the minimum taxable amount or invest in tax shelters.3. Get a job that pays more.

you forgot one4. How to make over 100K per year - get a job on this list that requires at least a 6 year degree.

Mr. Right:So we have a guy who sacrificed for a couple years and is now pretty much free of debt. If he's smart, he'll continue to live carefully (he might want to lighten up a bit on the food expenditures) and build up a good chunk of savings and investment and pay cash for anything he wants to buy in the future. It's guys like him that become millionaires by the time they retire, not the folks who spend upwards of a third of their income on interest payments for the mortgage, car loans, credit card debt, student loan debt, etc.

Wait, wait wait....

I put myself through college by working, so no student loans . I pay in cash what I can so I have no car or motorcycle payments and they only have 60k/7k miles respectively...my only debt is a mortgage with a 3.25% APR that will be paid off hopefully around when I retire (60ish).